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Quesnay's Female Founders in InsurTech 2020

Quesnay's Female Founders in InsurTech 2020

Digital technology continues to transform the global insurance industry. How will your startup fuel essential innovation?
stage:
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prize:
$25,000
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Overview

Challenge Overview

Female Founders in InsurTech 2020 is an open innovation competition targeted at promoting female entrepreneurs with solutions relevant to the insurance industry and address technology opportunities.  This is the third year Quesnay is running a dedicated InsurTech innovation competition as part of the Female Founders in Tech series. 

 

Challenge Question

Digital technology continues to transform the global insurance industry (with the recent pandemic further accelerating change). How will your startup fuel essential innovation?

 

Why Insurance?  

Across the board, women are underrepresented in insurance.  Especially when looking at c-suite positions...

Source: Increasing Gender Diversity in Insurance Leadership

Moreover, women raised only 2.8% of capital invested across the entire U.S. startup ecosystem in 2019 (PitchBook).  The need to elevate female leaders is indisputable.

 

How Quesnay is Solving the Problem

Quesnay launched the Female Founders in Tech program in 2017 to identify and evaluate innovative technology solutions and unique talent for corporations while also providing visibility, access to capital, mentorship, and partnership opportunities to startups.  The series has expanded to include programs in industries including financial services, insurance, mobility, and telecom.  Each program drives employee engagement, inclusion, and promotes corporate-startup collaboration.

Since inception, more than 650 startups from 63 countries have applied and our winners have gone on to raise over $35M in venture capital funding and/or have been acquired by large corporations.

Check out last year's Final Pitch Event at InsurTech Connect in Las Vegas, NV:

 

Guidelines

Challenge Guidelines

Challenge Question 

Digital technology continues to transform the global insurance industry (with the recent pandemic further accelerating change). How will your startup fuel essential innovation?

 

Eligibility Criteria 

  • Participant must be an Authorized Representative of an Eligible Entity or an eligible individual entrant;
  • Participant (if Participant is an individual) or Participant’s Authorized Representative (if Participant is an Eligible Entity) must be a female (or identifies as female) founder, co-founder, CEO, or C-Suite leader;
  • Participant’s product offering must be relevant to the insurance industry and address technology opportunities as determined by Sponsor in its sole discretion; **may have broader applicability than insurance**
  • Participant must at least have a Minimum Viable Product (MVP) that has a planned launch or has already been launched in-market, as determined by Sponsor in its sole discretion; ** no cap on required experience level or time in market **

For full eligibility requirements please see Official Rules.

 

Round 1 Online Judging Criteria 

Category

Evaluation Criteria

Weighting

Impact on Insurance Industry
  • Does this product have a clear use case for the Insurance industry?
  • Will this product address key pain points in the industry (e.g. increased operational efficiency, customer experience, disaster planning & recovery, cyber security, etc.)?
  • Is the Participant’s business model disrupting the traditional insurance model?
  • How relevant is the product or solution in a COVID-19 world?

35%

Degree of Product Differentiation / Novelty
  • Are there similar products to this in the marketplace?
  • What makes the product unique?
  • Is it possible to have a new business model based on this product?

25%

Measurable Outcomes
  • How large is the product’s total addressable market (TAM)?
  • Do they have a clear definition and way of measuring success?

20%

Clear Plans for Growth / Scalability
  • Does the Participant have a clear growth strategy?
  • Is the solution scalable?
  • Has the Participant had any corporate partnerships to date?

20%

Round 2 Final Pitch Judging Criteria can be seen in the Official Rules and will be posted to this section after the Top Five Finalists are announced.

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